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May 2, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Fantastic Sams Loan | ||||
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Shorebank Small Business Franchise Loan
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Loan to Buy Fantastic Sam's Franchise Issued By ShorebankBorrowing money to purchase a Fantastic Sam's franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Fantastic Sam's franchise? If so, here's a 2005 SBA franchise loan that you should know about. Shorebank was the lender and the entrepreneur was based in Chicago, Illinois. SBA Loan Borrower FANTASTIC SAMS SBA Loan Lender SHOREBANK This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 3/18/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shorebank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shorebank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Borrowing Money from Friends and Family Best Banks in Chicago, Illinois
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